HOW TO START TRADING
Trading Ethereum on Base and Uniswap
If you're looking to trade Ethereum (ETH) on the Base network using Uniswap, here’s a step-by-step guide to help you navigate the process.
YOU NEED TO DOWNLOAD 3 APPS:
Binance, Coinbase or Luno.
*This is a Crypto Exchange
MetaMask
*This is a Crypto Wallet
Uniswap
*This is a Crypto Wallet
1. Set Up Your Wallet
First, ensure you have a compatible cryptocurrency wallet, such as MetaMask, that supports the Base network. If you don’t have one, you can easily create a wallet and set it up.
2. Connect to the Base Network
Open the Uniswap app and connect your wallet to it. In this case, it is your MetaMask wallet.
HOW TO CONNECT IT:
Access Your Recovery Phrase: First, ensure you have your MetaMask recovery phrase (also known as the seed phrase) handy. This is a set of 12 words you received when you created your MetaMask wallet. Make sure you don’t just screenshot it - write it down and keep it in a safe place. DO NOT LOSE THIS, EVER.
- Open Uniswap App > Select Import a wallet > Enter the 12 Word Recovery Phrase you wrote down from MetaMask
- It should read: One wallet found, and the wallet address below is your MetaMask Wallet address.
- Click: Continue.
- Once connected, you need to select the network drop-down menu and choose Base as your active network.
Important Note: Never enter your recovery phrase on any website other than the official MetaMask app or extension. Sharing your recovery phrase can lead to scams and loss of funds. Always ensure you are on the correct website/app and take precautions to protect your wallet information.
3. Acquire Base ETH
If you don’t already have Base ETH, you can obtain it by bridging your Ethereum from the Ethereum network to the Base network.
A recommended method is to use Binance, Coinbase or Luno; in this case it is Binance. Deposit ETH to Binance on the Ethereum network and then send it to your MetaMask Wallet using the Base Network. This method can help you avoid high gas fees associated with other bridging options.
4. Using Uniswap to Trade
After ensuring you have Base ETH in your MetaMask Wallet, go to the Uniswap app. Here, you can select the token you want to swap with Base ETH. Uniswap allows you to swap various ERC-20 tokens on the Base network.